PepsiCo cuts earnings forecast as North American turnaround takes longer than expected

PepsiCo announced on October 8, 2026 that it is lowering its full‑year earnings outlook after the third‑quarter results showed a slower‑than‑expected turnaround in its North American businesses. The company cited a lackluster performance in the United States and Canada, while noting that demand overseas remains strong. Coverage of the announcement highlights several themes.

Reuters frames the move as a timing issue for meeting targets set by activist investor Elliott Management and points to an emerging threat from GLP‑1 weight‑loss drugs that could curb sugary‑drink consumption. Bloomberg focuses on mounting cost pressures in North America that are eroding margins. CNBC’s headline stresses that the North American turnaround is taking longer than expected.

Yahoo Finance reports strong overseas demand but a weak domestic performance, while Quartz reports the cut to the full‑year profit forecast. Investors will watch the October 8 earnings call for details on how PepsiCo plans to address the cost headwinds and the GLP‑1 challenge, as well as any revised guidance for the remainder of the fiscal year. Subsequent reports from Reuters, Bloomberg and CNBC will be monitored for updates on cost‑management initiatives and progress on the North American turnaround.